ABN AMRO predicts uncertain future for diamond industry

The global diamond industry has moved from a relatively stable environment to a highly uncertain environment due to lab-grown diamonds, according to The Diamond Insights report published by ABN AMRO Bank recently.

Today

Signet registers drop in its sales during the holiday season

Signet Jewelers Limited, the world's largest retailer of diamond jewelry, has announced its sales results for the holiday season, that ended January 5, 2019.

Today

ALROSA earns $463 mln at international auctions in 2018

In 2018, ALROSA, the largest diamond mining company in the world, held 32 international auctions for special size (over 10.8 carats) rough diamonds, receiving a total revenue of $463 million for the year.

Today

TDC warns entities declaring bankruptcy and restarting business without discharging liabilities

The Trade Disciplinary Committee set up in India has issued a circular for members of the respective organisations intimating them that action will be taken against entities which have declared bankruptcy/insolvency, and continue to conduct business...

Yesterday

Angola extracted 9.43 mln carats of diamonds worth $1.2 bln in 2018 – report

Angola produced 9.43 million carats worth $1.2 billion in 2018, according to Macauhub citing the state-owned diamond company Endiama.

Yesterday

Those Warranties on Diamond Invoices Are Changing

29 december 2018
(jckonline.com) - Ever since 2003, after the Kimberley Process (KP) went live, World Diamond Council (WDC) has required that all natural diamonds have the following wording stamped on their invoice: The diamonds herein invoiced have been purchased from legitimate sources not involved in funding conflict and in compliance with United Nations resolutions. The seller hereby guarantees that these diamonds are conflict free, based on personal knowledge and/or written guarantees provided by the supplier of these diamonds. The World Diamond Council recently adopted new language for the invoices, which it will ask everyone in the diamond industry to use starting next year: The diamonds herein invoiced have been purchased [or sourced] from legitimate sources not involved in funding conflict, in compliance with United Nations Resolutions and corresponding national laws. [If they wish, companies can list the countries from which they are sourced.] The seller hereby guarantees that these diamonds are conflict free and confirms adherence to the WDC SoW Guidelines. WDC president Stephane Fischler says the group had long wanted to strengthen the system of warranties (SoW), the voluntary system that backs up the Kimberley Process.